TMSG Hails TETFund’s ₦1.6 Trillion Collection as Proof of Economic Recovery Under Tinubu.
By Raymond Enoch.
The Tinubu Media Support Group (TMSG) has described the recent ₦1.6 trillion revenue collection by the Tertiary Education Trust Fund (TETFund) in 2024 as a clear indication that Nigeria’s economy is rebounding under the leadership of President Bola Ahmed Tinubu.
In a statement released over the weekend, the group praised the administration’s fiscal direction, noting that the ₦1.6 trillion haul exceeds the combined ₦1.024 trillion collected between 2019 and 2023. The group called the feat “historic and unprecedented” in the country’s education funding landscape.
TETFund, which relies on a 3% education tax charged on the profits of registered companies in Nigeria, saw a significant surge in collections this year. According to TMSG, this remarkable performance is a direct reflection of improved corporate earnings and a more efficient tax collection framework instituted under the current administration.
“This is not just a financial achievement; it is economic proof that President Tinubu’s policies are working,” the group declared. “The figures show increasing business confidence and expanding tax compliance. It means our economy is growing in real terms.”
The group emphasized that TETFund’s increased revenue would greatly impact Nigeria’s tertiary education system. They said the funds would enhance infrastructure development, expand research funding, and enable capacity building for lecturers and academic institutions across the country.
TMSG also stressed that the education sector, long underfunded and neglected, now stands a chance to recover and contribute meaningfully to national development, thanks to renewed investment made possible by the administration’s fiscal reforms.
They pointed out that while the record-breaking collection was impressive, it was even more significant that it came in just one year—surpassing the total funds generated over a five-year span during previous administrations. “This is what happens when leadership meets discipline and vision,” they added.
Despite the positive development, TMSG acknowledged that broader economic challenges remain. Inflation, unemployment, and cost of living concerns are still pressing issues. However, they said the TETFund figures should not be dismissed as isolated, but rather seen as part of a larger trend of economic stabilization.
The group urged the government to sustain and scale up these gains by ensuring that every naira collected is properly utilized. They called for transparency and accountability in the disbursement and monitoring of TETFund resources to ensure they reach the institutions and students who need them most.
TMSG further encouraged educational institutions to seize the opportunity and align their development strategies with national priorities. “This funding boost is not just about numbers—it’s about building capacity, producing innovators, and driving national competitiveness,” they said.
They concluded by expressing confidence that President Tinubu’s administration is on the right path toward economic recovery and national renewal, citing the TETFund achievement as a tangible outcome of strategic leadership and purposeful governance.
